Buying a Home in Need of Foundation Waterproofing
Are you buying a home? You probably have a list of items that you’re looking for in your new property. It can be difficult or even impossible to find a house that checks everything on your list. Therefore, when you find a property that has most of the major items you want in a property, you should probably go for it.
When the home you’re interested in has foundation waterproofing issues, you may have second thoughts about the house. However, if you still want to purchase the home, here are some things you must do before signing the dotted line.
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- Call in the experts
A foundation waterproofing expert will inspect the foundation and tell you the extent of damage to the foundation. They will let you know what needs to be done to repair the foundation and how much it will cost.
The seller shouldn’t have a problem calling in an expert for this. If they are hesitant, walk away. That is a big red flag.
- Ask about previous repairs
The seller should disclose information on any repairs done to the foundation. This will tell you what issues to expect in future and perhaps shed some light on the present issues. Ensure that there is paperwork on the repairs. Permits will show that the work was done up to standard. The absence of permits shows that the seller may have cut some corners in their repair work.
- Avoid leaving the repairs to the seller
The seller is interested in making the biggest profit margin possible. They are also not invested in repairs since they won’t live in the house once it’s sold. They are likely to opt for the most cost efficient option for repairs as opposed to the best option.
- Understand the full costs for repair
What will the repair cost? What will it involve? Will the solution be a long term one? Ensure that the solution presented will provide you with long term results. You wouldn’t want to spend more money on more repairs a few months after moving into the home.
- Include contingency clauses
If you’re still interested in the house even after considering all the work required for repair of the foundation, you can put in an offer for the house. However, be sure to include some contingency clauses to give you ample room to get out of the deal before the final signing. You should also ensure that the cost of the repairs is considered in the sale agreement.